Unacademy on Tuesday announced that it has led a strategic investment of $5Mn to acquire a majority stake in Mastree. Mastree is a leading K12 learning platform and the latest acquisition will help the Edtech major in increasing its presence in K12 learning space.
Following this investment, Unacademy has provided Blume Ventures an exit, according to the statement issued by the company,
Unacademy’s latest acquisition comes barely days after it acquired Chandigarh based higher medical examination platform PrepLadder. The latest acquisition of Mastree marks Unacademy’s fifth acquisition.
Apart from Mastree and PrepLadder, its past acquisition includes Wifistudy, Kreatryx and CodeChef.
Commenting on the investment, Gaurav Munjal, Co-Founder and CEO, Unacademy said, “During our first meeting, Shrey and Royal showed us the product they were building. We were very excited about it, and hence we decided to partner.
He further added “we have a shared vision, and together we want to create an impact and make quality education accessible and affordable. Mastree is building a highly impactful subscription product, and it will change the way students learn. We are very happy to have Mastree as part of the Unacademy Group.”
Shrey Goyal, Co-Founder and CEO, Mastree said “Mastree’s mission is to help students achieve academic excellence by igniting their curiosity and providing them with personalised and affordable education. We are excited to be a part of the Unacademy Group and have the Unacademy team as a partner and mentor in this journey.”
Founded by Shrey Goyal and Royal Jain in October last year, Mastree recognizes the gaps in foundational learning and the challenging transition to middle school for both students and parents. It essentially assists in bridging this gap by strengthening the foundation and inspiring students to achieve academic excellence.
The barely one year old company claims to have built subscription product for STEAM (Science, Technology, Engineering, the Arts and Mathematics) courses – for classes 5-8.